Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Freeport-McMoRan    FCX

FREEPORT-MCMORAN

(FCX)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

UN Deploys Special Forces in Congolese Copper-Mining Province

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/27/2013 | 05:36am EST

By Nicholas Bariyo

Special to

The United Nations peacekeeping mission in Congo Thursday started to deploy special forces in Katanga province in an attempt to contain a growing wave of insecurity in the country's copper-mining heartland, a military spokesman said.

A separatist militia group, known as Bakata Katanga, has stepped up attacks in Katanga since March, destabilizing the province that has for years been shielded from the violent insurgencies that have dogged mineral-rich eastern Congo since the late 1990s. In March, Bakata Katanga swept through the copper-mining hub city of Lubumbashi, Katanga's capital, for several hours, sending shockwaves through the mine investment community.

The U.N. mission, known as Monusco, is expected to complete the deployment of a special forces unit, comprising of more than 100 Egyptian troops, in the province in the next few days to neutralize threats to civilians and aid officials, Colonel Felix Basse, the Monusco military spokesman told Dow Jones Newswires.

It is the first time the U.N. has deployed specialized troops in Katanga, since the start of insurgency early this year. The insurgency threatens multi-billion dollar copper mining projects in Katanga, which is expected to produce around 800,000 metric tons of copper this year that would bring it on a par with Zambia, Africa's largest copper producer.

"With more officers and men on the ground, we shall be in a better combat position to deal with the insecurity," Col. Basse said. "Threats to civilians and NGOs (Non-Government Organizations) are on the rise, it's within our mandate to act."

The unit will reinforce several battalions of peacekeeping troops in the province, which exported 600,000 tons of copper last year.

Glencore Xstrata PLC (>> Glencore Xstrata PLC), U.S. miner Freeport-McMoRan Copper & Gold Inc. (>> Freeport-McMoRan Copper & Gold Inc.) and Lundin Mining Corp. (LUN.T) are among companies operating in the province.

While the mining sector in troubled eastern Congo is devoid of large-scale investments, Katanga, which has seen years of relative peace, has attracted huge investment in the past decade, helping to turn around its once shattered copper mining sector.

Write to Nicholas Bariyo at Nicholas.Bariyo@dowjones.com

Corrections & Amplifications

This item was corrected at 1158 GMT because it misstated the name of the Monusco military spokesman in the fifth paragraph as Base, when it should be Basse.

Stocks mentioned in the article
ChangeLast1st jan.
FREEPORT-MCMORAN 0.99% 12.28 Delayed Quote.19.11%
GLENCORE -0.51% 301.5 Delayed Quote.4.05%
LUNDIN MINING CORPORATION 7.25% 6.51 Delayed Quote.15.43%
This article is part of a news chaine.
Article 1 / 2
<< Preceding Next >>
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FREEPORT-MCMORAN
02/17FREEPORT MCMORAN : Indonesia has not received new copper export permit - spokesm..
RE
02/15FREEPORT MCMORAN : s 7. and 7A. Management's Discussion and Analysis of Financia..
AQ
02/12Wealth Arranges $1.5M in Loans, Renegotiates Atacama Project Option Payment T..
AQ
02/11FREEPORT-MCMORAN INC : Change in Directors or Principal Officers (form 8-K)
AQ
02/07FREEPORT MCMORAN : Results of Operations and Financial Condition, Regulation FD ..
AQ
01/30Freeport-McMoRan Closes Up 7.85%, Largest Percent Increase Since July 2017 --..
DJ
01/24MARKET SNAPSHOT: Stocks Close Mostly Higher As Investors Weigh Solid Earnings..
DJ
01/24FREEPORT-MCMORAN INC : Results of Operations and Financial Condition, Regulation..
AQ
01/24FREEPORT MCMORAN : profit misses expectations as copper prices drop
RE
01/24Freeport-McMoRan's Profit Falls as Revenue Declines -- Update
DJ
More news
Financials ($)
Sales 2019 14 961 M
EBIT 2019 1 994 M
Net income 2019 622 M
Debt 2019 6 822 M
Yield 2019 1,63%
P/E ratio 2019 30,17
P/E ratio 2020 13,73
EV / Sales 2019 1,65x
EV / Sales 2020 1,50x
Capitalization 17 794 M
Chart FREEPORT-MCMORAN
Duration : Period :
Freeport-McMoRan Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FREEPORT-MCMORAN
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 14,2 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Richard C. Adkerson Vice Chairman, President & Chief Executive Officer
Harry Milton Conger President-Americas division
Gerald J. Ford Non-Executive Chairman
Kathleen L. Quirk Chief Financial Officer, Treasurer & Executive VP
Dustan E. McCoy Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FREEPORT-MCMORAN19.11%17 794
BHP GROUP LTD6.54%124 842
BHP GROUP PLC8.96%124 842
RIO TINTO17.91%95 589
RIO TINTO LIMITED16.35%95 589
ANGLO AMERICAN11.11%35 119